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According to the Deputy Finance Minister, the government is
considering giving a separate RM6,000 tax deduction for life insurance
premiums. Currently life insurance premiums and EPF contributions are combined
for the purpose of calculating the RM6,000 tax deduction.http://bit.ly/TAS0706a

Allianz refused to comment on whether it is bidding for a stake in
CIMB Aviva. Allianz General currently has a bancassurance agreement with
CIMB Bank.http://bit.ly/TAS0704a

Allianz unfazed by competition »KUALA LUMPUR: Allianz Malaysia Bhd says it is unfazed by increasing competition
from existing or new foreign players in the insurance landscape as the
penetration rate in the country is still small.

The gross written premium of GI industry is expected to grow 7-10%
this year. The growth is expected to be attributed to medical, fire and motor
insurance classes. In 2011, motor, fire and medical insurance contributed
46.4%, 16.5% and 6% respectively to the total gross written premium. Agency
distribution which contributed 61% of the business in 2011 is expected to
remain the dominant distribution channel.http://bit.ly/TAS0703a

Tokio Marine targets to be in the top 5 within the next 3 to 5
years. Its strategies include doubling the agency force, improving its
productivity and increasing the contribution of bancassurance channel from the
current 30% to 50% of new business. http://bit.ly/TAS0702a

KUALA LUMPUR: Tokio Marine Life Insurance (M) Bhd aims to be a top
five insurance company, growing its business organically through doubling its
manpower and expanding its bancassurance distribution c...